Tom Speechley swapping Norton Rose for Macfarlanes at the beginning of 2004 was one of those rare partner moves that genuinely got the market talking. It was a gamble for Speechley and for his new firm, as Macfarlanes was betting on its ability to build a credible debt finance practice on the back of one partner. In a market where institutional relationships hold sway, that is no easy task.

Since his move 12 months ago, Speechley has not only brought over all his work from Norton Rose but has successfully leveraged off Macfarlanes’ institutional contacts with lenders, as well as its stellar sponsor practice.

In doing so, he has built up a strong midmarket acquisition finance business and has garnered instructions from Royal Bank of Scotland, Bank of Ireland, Barclays Bank, NIB Capital Bank, Calyon and Mizuho. A gamble that has paid off, it is fair to say.